Asset Control Adds Matlab Language To Platform
Integration of computing language promises better risk and valuation calculation
Financial data management services provider Asset Control has integrated MathWorks' Matlab computing language into its AC Plus data management platform.
The companies say the integration is intended to improve on the calculation and validation of risk factor and valuation data.
"Asset Control aims to provide an integrated, robust and controlled platform for delivering clean and consistent data to users," says Martijn Groot, vice president of product management at Asset Control. "Matlab's rich syntax in financial mathematics, combined with our shared customer base, presented an opportunity for us to open up AC Plus to additional analytical languages in order to help our clients bring their data and financial models closer together. Ultimately, our aim is to make the management of risk factor and valuation data an easier process, and in turn support improved data governance."
The integration also will help address new risk management and regulation requirements, including BCBS 239, the Fundamental Review of the Trading Book (FRTB) and Stress Testing and Independent Price Verification (IPV).
"Current regulations such as BCBS 239 and FRTB, in addition to the CCAR, EBA and Bank of England stress tests, place increasing importance on financial modeling alongside the quality of the regulatory data," says Steve Wilcockson, industry manager, financial services, MathWorks. "By integrating Matlab with AC Plus, we welcome the opportunity to support greater robustness, transparency and confidence in this process."
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